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Northern Tier Energy Stock Offering Priced

A selling shareholder hopes to raise gross proceeds of more than $315 million.

Northern Tier Energy(NYSE:NTI) has put a price tag on the previously announced public stock issue by closely related entity Northern Tier Holdings. The price is $26.28 for each of the 12 million common units being floated. Additionally, the issue's underwriters will be granted a 30-day purchase option for up to an additional 1.8 million units.

In the press release announcing the move, Northern Tier Energy stressed it will not receive any proceeds from the offering.

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Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.